Hi,
I got a few questions and would appreciate some help on it.
I am being offered a salary of $7000-$7500. Would it allow me to live fine? (myself, wife + 4 year old.) We have been to Singapore before, and we would not be able to eat out. Cooking would be in home.
#1.
I think this could be my rough breakdown of the expenses: 3000-3500 apartment/condo , $500 - food, $500 - local transportation, $500 - petty expenses, $500 - school for son. Would these breakouts be good or are there other expenses that I have not seen.
#2.
How is tax deducted from the $7000. My wife will be on dependent pass. What % of it is deducted for income tax, and would that be at the end of the year or some % would be deducted from it and rest given as take-home payment. I heard its 20% tax. Is that true? that would mean I would get $7000 - $1400 = $5600 as the total payment.
#3.
I have other incomes as working as a programmer from via the internet. The income will eventually land into my bank account in singapore. Would that be taxed too? For example, I have some websites (not related to Singapore or even for Singapore) and I get a recurring income from Google ads and other forms of advertisements from my website. How would that be taxed? Basically, if I get some money into my account from abroad, for personal reasons like loan or something else, would those be taxed also?
#4.
How much does schools cost per month. My son will soon be in the 1st grade. What types of expenses am I looking at? I would be on an EP, so I guess private schools is what I would need to search for. Which are some of the best schools there, and what would be a general range of expenses to expect from the school for the education.
Thanks,
Sam.
